about
We work closely with closing attorneys and settlement agents to provide comprehensive title services for residential and commercial real estate closings.
With extensive experience in the title industry, we understand the many moving parts involved in getting transactions closed and the significance of closing on time. We strive to deliver thorough title work in a timely fashion to meet closing deadlines. allowing for a smooth process from start to finish.
With Carolina Sky Title Company, owners can take comfort in knowing that their interest in real property is protected.
title insurance faq
what is title insurance?
Title insurance is a form of indemnity insurance which insures against financial loss from defects in title to real property and from the invalidity or inability to enforce mortgage loans. In simpler terms, title insurance protects you and your lender against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property.
We conduct a comprehensive title search to clear any potential encumbrances prior to closing. However title insurance provides an extra layer of protection in the case of items not discovered in even the most exhaustive title search.
what does it cover?
Each title insurance policy is subject to specific terms, conditions and exclusions. Title insurance protects against claims from defects.
Defects are things such as another person claiming an ownership interest, invalid divorces, wills not probated, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the insurance policy.
is it like car insurance?
Yes and no. While they both protect against the unexpected, insurance such as car, life, health, etc., protects against potential future events, paid for with a monthly or annual premium.
Title insurance policies insure against events that occurred in the PAST for the real estate property and previous owners. This is paid in the form of a one-time premium at the “close of the escrow”, also known as the “closing” or “date of consummation”.
why do I need it?
Peace of mind. Buying a home is one of your largest investments in life. You expect to be able to occupy and use the property as you wish, to be free from debts or obligations not created or agreed to by you, and to be able to freely sell or encumber your property as you wish.
We do everything we can prior to closing to ensure against defects, searching years of county records to make sure that the chain of ownership is correct, complete, and that the property has no liens, judgments, or lawsuits pending against it. But title insurance is a low, one-time fee that provides peace of mind. The lender requires it for them, why wouldn’t you as a buyer want the same protections?